Quebecor Media submits application for wireless auction

Quebecor Media has submitted a deposit of $317 million in credit notes with Industry Canada and now joins Yak, Shaw and MTS for the Canadian wireless spectrum auction. The auction opens on May 27th.

Quebecor Inc. president and CEO Pierre Karl Peladeau said “We have always stated clearly that our Videotron subsidiary planned to build its own wireless network to serve the Quebec market. However, exceptionally favourable conditions for new entrants, which may never occur again, persuaded us it is in the interest of our shareholders that we try to extend our deployment across Canada. We will see at the conclusion of the auction if such a deployment is possible.”